GF Patterson Trust Prospect Bank
GF Patterson Trust Prospect Bank is a private foundation based in Paris, Illinois. Its 2025 filing reports that it administered 21 scholarships and lists scholarship awards to individual recipients.
GF Patterson Trust Prospect Bank at a glance
In short: GF Patterson Trust Prospect Bank gave $110K across 21 grants in 2025 (avg $5K), mostly in Illinois. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $110,000
- +4.4% vs 2024
- Grants made (2025)
- 21
- +5.0% vs 2024
- Average grant
- $5,238
- -0.6% vs 2024
- Median grant
- $5,000
- Total assets
- $918,767
- +0.5% vs 2024
- Primary geography
- Illinois (64% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026.
How to apply to GF Patterson Trust Prospect Bank
- How to Apply
-
Applications are available at Prospect Bank of Paris. Awards are limited to Edgar County residents pursuing graduate or undergraduate education. The 2025 filing lists April 17 as the deadline; that date has passed.
- Contact
Application contact: Tamra Inman
Mailing address: PO Box 400, Paris, IL 61944
Phone: (217) 465-4154
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who GF Patterson Trust Prospect Bank funds
How this funder distributes its grants
Grant Size Distribution
76 grants across all recorded years
The most common grant size was under $50K: 76 grants of 76 (100%).
Geographic Focus
Where this funder awards grants
In 2025, grant dollars went to recipients in Illinois (64%), Indiana (14%), Kentucky (14%), Mississippi (5%), and Arizona (5%).
Grant Distribution by State
Share of 2025 grant dollars across all 21 itemized grants.
Cities
How GF Patterson Trust Prospect Bank gives
- Giving grew 100% from 2022 to 2025. Method
- In 2025 it paid out 82% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $55K (2022) to $110K (2025). In 2025 it made 21 grants totaling $110K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| 21 individual scholarships Recipients not named | — | $110,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $918,767 | $144,655 | $139,977 | $110,000 | 21 | $112,663 | $113,749 | $137,133 |
| 2024 | $914,089 | $132,475 | $135,478 | $105,367 | 20 | $107,974 | $101,294 | $89,304 |
| 2023 | $917,092 | $128,665 | $109,547 | $80,000 | 14 | $83,070 | $101,440 | $84,773 |
| 2022 | $897,974 | $341,034 | $76,904 | $55,000 | 11 | $57,591 | $81,417 | $72,611 |
| 2021 | $633,844 | $88,040 | $74,923 | $56,000 | 10 | $58,443 | $72,443 | $58,110 |
| 2020 | $620,727 | $74,875 | $93,898 | $72,000 | 10 | — | $56,193 | $58,147 |
| 2019 | $639,750 | $78,523 | $91,511 | $72,950 | 11 | — | $57,743 | $77,016 |
Under IRS private-foundation payout rules, GF Patterson Trust Prospect Bank reported a distributable amount of $137K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
The filing describes the foundation’s direct charitable activity as scholarship grantmaking. Its stated award restriction is that recipients must be Edgar County residents pursuing graduate or undergraduate education.
Grantmaking
In filing year 2025, the foundation gave $110,000 through 21 grants. The median award was $5,000; grants ranged from $5,000 to $10,000. The listed awards were scholarships to individual recipients.
Leadership & Key People
Leadership team and compensation from IRS filings
Prospect Bank is listed as trustee.
GF Patterson Trust Prospect Bank's only listed officer is Prospect Bank, Trustee on every filing since 2019 (compensated).
Officers on the 2025 filing
Prospect Bank
Trustee
On filings since 2019
1 hr/week
$3K (2019) → $3K (2025)
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $3K, to Prospect Bank (Trustee).
Frequently asked questions about GF Patterson Trust Prospect Bank
How much does GF Patterson Trust Prospect Bank give each year?
GF Patterson Trust Prospect Bank gave $110K across 21 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $105K across 20 grants.
What is GF Patterson Trust Prospect Bank's typical grant size?
GF Patterson Trust Prospect Bank's median grant in 2025 was $5,000, and its average grant was $5,238, across 21 grants on its 2025 IRS Form 990-PF.
Where does GF Patterson Trust Prospect Bank give grants?
GF Patterson Trust Prospect Bank gives mostly in Illinois: 64% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest states were Indiana (14%) and Kentucky (14%).
Does GF Patterson Trust Prospect Bank give general operating support?
Not in 2025: none of the 21 grants with a stated purpose on GF Patterson Trust Prospect Bank's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Scholarship" (21 grants).
How large is GF Patterson Trust Prospect Bank?
GF Patterson Trust Prospect Bank reported $919K in total assets on its 2025 IRS Form 990-PF. It paid out $113K in qualifying distributions that year, against a required minimum of $137K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does GF Patterson Trust Prospect Bank fund?
The filing describes the foundation’s direct charitable activity as scholarship grantmaking. Its stated award restriction is that recipients must be Edgar County residents pursuing graduate or undergraduate education. See mission & focus areas ↑
How do I apply for a grant from GF Patterson Trust Prospect Bank?
Applications are available at Prospect Bank of Paris. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is GF Patterson Trust Prospect Bank's EIN?
GF Patterson Trust Prospect Bank's EIN (Employer Identification Number) is 37-6343185. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 3, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 11, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 11, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 13, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 13, 2025)
- Added Form 990-PF for fiscal year 2019 (received by the IRS May 11, 2020)
- Added Form 990-PF for fiscal year 2025 (received by the IRS June 17, 2026)
- IRS filings on file for fiscal years 2020–2024
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